Min Wage Increase = Transfer of Money Away From Middle Class

[PoS]

[Indy]

[PoS]

Show me anywhere in which I claimed that PIIGS and UK were practicing real austerity, Comrade Lenin. And show me where I said that Obamacare was UHC- you still have yet to do that either.

Troll harder, you socialist troll.

[Indy]

[spacemonkey]

To bad people couldn't buy their basic needs on a sliding scale in accordance with their income. But that would require forward thinking, so don't expect that to happen anytime soon.

[The Dude]

[Indy]

Well done, Dude.

It really gets old, people trotting out the same tired frauds and con games year after year no matter how much their credibility is shredded.

And yet people still listen to them.

Henrietta Syndrome.

[Aaron]

[J.K. Gregg]

My two cents on the minimum wage deal:

Studies in the 70s and 80s generally showed a negative relationship between an increasing minimum wage and the employment rate of young people. In the 90s, further studies blurred the relationship, some concluded it was statistically irrelevant, others said only marginally negative, but what the newer studies pointed out was that the marketplace has it's own "minimum wage," which is an abstract average wage of the lowest rung of workers (usually plucky teenagers in need of experience). If the government set the minimum wage at or near the marketplace's minimum wage, the effect was marginal. If the increase went above and beyond that marketplaces', it had a more negative impact.

I don't know what the marketplaces' minimum wage is, and I'm not even sure a bunch of really smart people could figure that out. But I generally side with those skeptical of minimum wage increases because more often than not, the wage rate is born out of political wrangling, and not economic analysis influenced by market signals.

I also think the act by the state of interjecting itself into private contracts of wage negotiation in the marketplace are evil and rights-violating, but I'll forgo that discussion because, well, I'm tired of going through the motions.

[Aaron]

relationship = correlation = false positive influenced by endless variables not the least of which is the decline in union influence